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Finance Magnates has learned that the House Financial Services Committee has approved legislation to revamp the federal government’s approach to regulating Wall Street banks, the first step towards replacing the 2010 Dodd-Frank Act which was adopted in the wake of the financial crisis, according to a report in the WSJ.
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The vote came just days after Wells Fargo agreed to pay regulators $185 million for illegal sales practices, including opening as many as two million deposit and credit-card accounts without customers’ knowledge, $100 ... (read more)